Hope2012


International Economic News Round-Up
December 9, 2008, 7:35 am
Filed under: Uncategorized

Breakdown of the Global Monetary System by summer 2009 – Global Research 12/2/08

Paris Club publishes list of countries’ debts – Reuters/Guardian, UK 11/26/08

Rich countries launch great land grab to safeguard food supply – Guardian, UK 11/22/08

 

EUROPE

The Spanish Crisis In A Nutshell – Roubini Global Economics Monitor 11/19/08

France plans 20bn euro stimulus – BBC 12/4/08

French President Nicolas Sarkozy is set to unveil 20bn euros of support for the car industry, housing and household spending.

Bank cuts UK rates to 57-year low – BBC 12/4/08

The Bank of England cuts interest rates by one percentage point, from 3% to 2% – their lowest level since 1951.

UK food and energy prices are rising twice as fast as those in Europe – Daily Mail, UK 12/3/08

Metal prices fall further than during Great Depression – Telegraph, UK 12/3/08

A 50% drop in mortgage lending in the past 12 months and dire predictions by the government’s mortgage tsar of a complete freeze in home loans next year prompted calls yesterday for immediate action from the chancellor Alistair Darling to assist home owners.

Data published yesterday showed home loan approvals halved in the year to the end of October. This came a day after Sir James Crosby warned that net lending would fall below zero next year in his report published alongside the chancellor’s pre-budget report on Monday.

UK ‘closer’ to adopting the euro – BBC 11/30/08

U.K. Credit Cards to Give Borrowers Extra 60 Days to Pay – 11/26/08

Businesses hit by huge bank charges – Independent, UK 11/24/08

High-street banks are continuing to hit businesses with punitive interest rates for loans and overdrafts and are resorting to more severe measures to ensure they are paid.

Some are demanding that owners of small businesses put up personal assets as collateral in return for a business loan. Others are changing conditions of loans by sending emails rather than meeting in person, and giving borrowers just 48 hours to comply with unilaterally-rearranged overdraft and lending agreements.

Public Debt Crisis in the United Kingdom – Global Research 11/28/08

 

ASIA / SOUTH PACIFIC

China to Shun West’s Finance Sector – NYTimes 12/3/08

The chairman of China’s sovereign wealth fund said that China had no plans for more investments in Western financial institutions, nor did it have any plans to “save” the world through economic policies.

China Is Attacking The U.S. – Yet We Still Fuel Their Economy. Why? – JustAnotherCoverup 11/21/08

China is set to become a major military power, and their attacks on the United States are escalating, now with dire consequences

China Scrambles to Stave Off Economic Meltdown – Global Research 11/25/08

Japanese Economists Consider Asking for Yen Denominated U.S. Treasuries – via Cryptogon 11/24/08

New Zealand: Currency Swapline with U.S. Federal Reserve  – Cryptogon 12/2/08

KiwiCanDo has been investigating the recent and unprecedented agreement between the Reserve Bank of New Zealand and the U.S. Federal Reserve with regard to the creation of a US$15 billion currency swapline. The Fed has asked the New Zealand Reserve Bank authorities to keep the details of the agreement a secret.

Australia instructs workers to take a break – Financial Times 12/4/08

 

ELSEWHERE IN THE WORLD

Russia to buy out mortgages from banks – Raw Story 12/3/08

Medvedev, in Brazil, Calls for Economic Summit – NYTimes 11/26/08

Russian President Dmitry Medvedev and his Brazilian counterpart Luiz Inacio Lula da Silva called on Wednesday for the first summit of major emerging market countries.

General Motors to Invest $1 Billion in Brazil Operations — Money to Come from U.S. Rescue Program – Latin America Herald 11/21/08

Icelanders Attack Police Station as Bankster Plan Unfolds  – Implode Explode 11/25/08

Events Turning Violent In Iceland – via Market Skeptics 11/22/08

Israel’s Stimulus Plan Draws Protest  – Forbes 11/25/08

Venezuela’s Chavez plans alternative financial crisis summit – Global Research 11/18/08

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